1 May

New build prices rising around the UK

New build prices rising around the UK

The price of new build houses has been rising around the country as more and more people look at them as a viable option post-financial crisis.
According to the latest report released by Halifax, the cost of buying a brand new house was on the increase thanks to the strengthening sentiment. 

Currently, those looking to buy such a product are looking at an average price of £233,822. This is a 12 per cent rise in the past five years and a 40 per cent growth when compared to a decade ago.

In recent times, the speed of increase can be seen to have been helped by the fact that the government has put faith in new houses, offering NewBuy and Help to Buy schemes that allow people to get on the ladder with a small deposit, a chance many have taken.

Craig McKinlay, new mortgages director for Halifax said: "In a relatively flat housing market, the new homes market has changed enormously over the past five years. We have seen a lot of positive sentiment towards the new homes market, with various schemes launched to get the house building industry moving and changes in policies and deposit requirements allowing shared equity buyers to participate more fully in the new build market."ADNFCR-1222-ID-801580172-ADNFCR

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